Vanity Fair has cancelled its annual Academy Awards party on 24 February even though the writers guild is said to be on track for a possible deal with studios.
A statement posted on VanityFair.com said: "After much consideration, and in support of the writers and everyone else affected by this strike, we have decided that this is not the appropriate year to hold our annual Oscar party."
The magazine added: "We want to congratulate all of this year's nominees and we look forward to hosting our 15th Oscar party next year."
The annual post-Oscar soiree often lures more luminaries than the ceremony itself and the event has been a fixture for partygoers since its inception in 1994.
The night's big winners and nominees typically turn out, along with A-listers including Angelina Jolie, Brad Pitt, Oprah Winfrey, Jack Nicholson, Madonna, Cher, Sean Penn, Joni Mitchell and Al Gore, who have attended the party in previous years.
Vanity Fair editor Graydon Carter decided to cancel the party because even if the three-month writers strike was resolved before the Academy Awards, its effect on Tinseltown was likely to linger.
In a statement Carter said: "Inasmuch as Vanity Fair is a collection of writers, photographers and artists, we do feel ourselves in aligned solidarity with the writers, directors and actors in the film business."
A year after holding its first Oscar party, Vanity Fair introduced its annual Hollywood issue. This year's issue, featuring 10 young actresses on its tri-fold cover, reaches newsstands next week.
